Selected comparative financial statement information of Bluegrass Corporation follows. Required 1. Compute each year's current ratio. (Round
Question:
Required
1. Compute each year's current ratio. (Round ratio amounts to one decimal.)
2. Express the income statement data in common-size percents. (Round percents to two decimals.)
3. Express the balance sheet data in trend percents with 2013 as the base year. (Round percents to two decimals.)
Analysis Component
4. Comment on any significant relations revealed by the ratios and percents computed.
Transcribed Image Text:
BLUEGRASS CORPORATION Comparative Income Statements For Years Ended December 31,2015,2014,and 2013 2015 2014 2013 $198,800 $166,000 $143,800 66.200 77.600 18,000 4.6105.700 33.700 43.900 5.300 $44,420 39.515 38,600 108,890 86, Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income taxes Net income 89,910 22,680 16,760 39,440 50,470 79,825 19,790 34,400 45,425 6,050 5.910 9 BLUEGRASS CORPORATION Comparative Balance Sheets December 31,2015,2014,and 2013 2015 2014 2013 Assets Current assets $ 54,860 32,660 36,300 10,600 112.810 113,660 79.000 $148,020 $125,900 1,700 Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity $ 22,370 19,180 16,500 46,500 46,500 37,000 13,850 13,850 ,300 61,100 $167.670 $148,020 $125.900 84.950 68,490
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Part 1 Current ratio December 31 2015 54860 22370 25 to 1 December 31 2014 32660 19180 17 to 1 Decem...View the full answer
Answered By
Mwangi Clement
I am a tried and tested custom essay writer with over five years of excellent essay writing. In my years as a custom essay writer, I have completed more than 2,000 custom essays in a diverse set of subjects. When you order essays from me, you are working with one of the best paper writers on the web. One of the most common questions I get from customers is: “can you write my essay?” Upon hearing that request, my goal is to provide the best essays and overall essay help available on the web. I have worked on papers in subjects such as Nursing and Healthcare, English Literature, Sociology, Philosophy, Psychology, Education, Religious Studies, Business, Biological Sciences, Communications and Media, Physical Sciences, Marketing and many others. In these fields, my specialties lie in crafting professional standard custom writings. These include, but are not limited to: research papers, coursework, assignments, term papers, capstone papers, reviews, summaries, critiques, proofreading and editing, and any other college essays.
My extensive custom writings experience has equipped me with a set of skills, research abilities and a broad knowledge base that allows me to navigate diverse paper requirements while keeping my promise of quality. Furthermore, I have also garnered excellent mastery of paper formatting, grammar, and other relevant elements. When a customer asks me to write their essay, I will do my best to provide the best essay writing service possible. I have satisfactorily offered my essay writing services for High School, Diploma, Bachelors, Masters and Ph.D. clients.
I believe quality, affordability, flexibility, and punctuality are the principal reasons as to why I have risen among the best writers on this platform. I deliver 100% original papers that pass all plagiarism check tests (Turnitin, Copyscape, etc.). My rates for all papers are relatively affordable to ensure my clients get quality essay writing services at reasonable prices.
4.50+
5+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Managerial Accounting questions
-
Selected comparative financial statement information of Bluegrass Corporation follows. Required 1. Compute each years current ratio. (Round ratio amounts to one decimal.) 2. Express the income...
-
Selected comparative financial statement information of Bluegrass Corporation follows. BLUEGRASS CORPORATION Comparative Income Statements For Years Ended December 31, 2016, 2015, and 2014 BLUEGRASS...
-
Selected comparative financial statement information of Bluegrass Corporation follows. BLUEGRASS CORPORATION Comparative Income Statements For Years Ended December 31, 2016, 2015, and 2014 Required...
-
Show the parse trees for the two parses that the grammar assigns for sentence S1. S1: the train station bus rumbles [3 marks] (b) Give an algorithm for a bottom-up passive chart parser without...
-
Suppose the spot exchange rate for the Hungarian for int is HUF 197. Interest rates in the United States are 4.8 percent per year. They are 8.7 percent in Hungary. (a) What do you predict the...
-
A square loop of wire has a perimeter of \(60 \mathrm{~cm}\) and is oriented such that two of its parallel sides form a \(30^{\circ}\) angle with the horizontal. A uniform horizontal magnetic field...
-
Suppose the exchange rate for the Swiss franc is quoted as SF 1.50 in the spot market and SF 1.53 in the 90-day forward market. a. Is the dollar selling at a premium or a discount relative to the...
-
Trevor Price bought 10-year bonds issued by Harvest Foods five years ago for $936.05. The bonds make semiannual coupon payments at a rate of 8.4 percent. If the current price of the bonds is...
-
. A bond has a $1,000 par value, 8 years to maturity, and a 7% annual coupon and sells for $980. a. What is its yield to maturity (YTM)? Round your answer to two decimal places. 7.34 w "/n b. A...
-
Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31, 2013. To simplify this exercise, the amounts given are in thousands...
-
Selected comparative financial statements of Tripoly Company follow. Required 1. Compute trend percents for all components of both statements using 2009 as the base year. (Round percents to one...
-
Selected year-end financial statements of Overton Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2014, were inventory, $17,400; total assets, $94,900;...
-
1. At year-end, Harris Co. had shipped $12,500 of merchandise FOB destination to Harlow Co. Which company should include the $12,500 of merchandise in transit as part of its year-end inventory? 2....
-
Compute the given integral. 13x-6 (13x - 12x+5) 4 dx
-
Future Tech borrows $19,200 on August 1 from the bank by signing a $19,200, 9%, 1-year note payable. Adjusting entries are made only at the end of the year. a. Prepare the entry to record the...
-
Use the Dividend Growth Model (DDM) to estimate the inherent value of a share of the Red Monkey Corporation, along with the following information; 1. Beta - 1.25 2. Retention Ratio -.60 3. This...
-
Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 4% stock, $20 par, and 19,000 shares of $75 par common. During its first four...
-
Evaluate the expression. d dx2 x = 1/576 Step 1 1 We want to find the second derivative of the function x3 at x= 576 Taking the derivatives would be easier if the function were written as a power...
-
Describe the limitations imposed on administrative agencies by the legislative branch, the executive branch, and the legally required disclosure of information.
-
Funds are separate fiscal and accounting entities, each with its own self-balancing set of accounts. The newly established Society for Ethical Teachings maintains two funds-a general fund for...
-
Internal control procedures are important in every business, but at what stage in the development of a business do they become especially critical?
-
Why should the person who keeps the records of an asset not be the person responsible for its custody?
-
When a store purchases merchandise, why are individual departments not allowed to directly deal with suppliers?
-
Listen The desire of foreign producers to preserve market share for goods sold in the United States helps contribute to complete exchange-rate pass-through following a depreciation of the dollar True...
-
You work at a large department store selling computer products. Iwina walks in and wants to buy a wireless router. She explains that the media streaming device she ordered online supports a...
-
Discuss the security issues surrounding the ability of users to access the network from a remote location. Explain the remote access technologies, protocols, and options. Compare VPN technology from...
Study smarter with the SolutionInn App